Expect to hear more sounds of new construction in Maryland in coming months.
A recent report by Metrostudy, a national housing data and consulting firm, indicates there will likely be increases in new house construction in the near future.
Much of the reason for that is rebounding employment. “The Baltimore MSA (metropolitan statistical area) saw some improvement to job growth, adding 6,800 jobs over the same time period,” said Melissa Jon … [Read more...]

As the U.S. undergoes the most severe down turn in its housing markets since at least the Great Depression, at least 25 local markets are progressing through the transition forecast to experience housing price inflation during the remainder of 2011.
Driven by a U.S. military realignment program and a robust local economy El Paso, Texas located on the border of Mexico takes the #1 position. El Paso is now forecast to lead the nation in home … [Read more...]

A busier housing market is developing in Maryland as home buyers shopping for deals pour out to find discounted properties. After years of decline, housing markets throughout most of the state are signaling signs of improvement even though better signs are from foreclosure sales and bank assisted short sales, which make up half of all transactions.
Prince George’s home sales picked-up after prices fell for more than three years with the h … [Read more...]

By Mike Colpitts
Loan limits on jumbo mortgages are scheduled to be slashed as a result of changes required in the Housing and Economic Act of 2008. However, the impact is expected to be limited by many lenders.
The Federal Housing Administration (FHA) will reduce mortgage limits on loans in the highest metropolitan areas of the U.S. on jumbo loans, while limits will be left unchanged in the over-whelming majority of the country. Jumbo … [Read more...]

By Mike Colpitts
A former real estate broker pled guilty to fraud charges in relationship to a mortgage scheme that involved more than $12 million in mortgages, straw borrowers that operated over a course of seven years and real estate investors.
The plea was entered after federal prosecutors worked out a deal with Alexander O. Matthews, whose real estate license was revoked in the state of Virginia in 2007. Matthews, 46, of Dunn Loring, … [Read more...]

By Mike Colpitts
In a move that has been awaited more than a year, the Housing and Urban Development Department launched the Emergency Homeowners Loan Program to help unemployed homeowners at risk of foreclosure in 27 states.
The program is slated to help only a small number of troubled homeowners during its life-span. The White House estimates that 30,000 distressed homeowners will be helped through the plan. Homeowners at risk of … [Read more...]

By Mike Colpitts
The inventory of U.S. homes that have not yet been foreclosed but are in financial jeopardy recognized as the shadow inventory has declined by 200,000, according to real estate research firm Core Logic. The current residential shadow inventory is 1.8-million units, which represents a nine months supply of inventory at present sales volume.
The company estimates the shadow inventory by calculating the number of distressed … [Read more...]

By Kevin Chiu
Starting today Housing Predictor debuts a new real estate index. Housing markets that make the new “Watch List” are being monitored closely for changing economic conditions in the near future as a result of at least two improving economic trends. Some of the markets on the list have already been forecast to experience real estate appreciation in 2011. Others show the likelihood of moving in that direction.
Employment is the key … [Read more...]

By Kevin Chiu
Divided by growing political unrest, a nation in economic turmoil and the reluctance of banks to lend to any but the best of mortgage worthy applicants in the current economy, the U.S. housing market is forecast to experience a split as some areas of the nation hit bottoms of the market and others decline to hit a bottom in 2011.
The Housing Predictor forecast was determined after analysts reviewed market sales volume and … [Read more...]

Declining home sales after the federal government's tax credit expired are hurting Maryland, once considered one of the stronger regions in the country in terms of home values. Falling prices hurt the housing market as it erodes confidence in home values recovering any time soon.
The battle being waged to produce a housing recovery in the region is provided by a variety of sectors, including politicians in Washington, D.C., many of whom make … [Read more...]